2008 Lexus IS 250 Insurance Cost – 8 Tips for Best Prices

Overpriced Lexus IS 250 insurance can empty your savings account and make it impossible to make ends meet. Doing a price comparison is a smart way to slash your bill and have more diposable income.

There is such a variety of insurers to purchase coverage from, and though it is a good thing to have a selection, it can be more difficult to find the best rates for your vehicles.

Buying car insurance is quite easy. If you have car insurance now, you will be able to save some money using these methods. But drivers can benefit by having an understanding of how big insurance companies determine prices and use this information to your advantage.

Automobile Insurance Quotes

There are multiple methods to compare 2008 Lexus IS 250 insurance prices but one way is easier and takes less work. You could spend your day driving to insurance companies in your area, or you can utilize online quoting to get rate comparisons in just a few minutes.

Many of the larger companies are enrolled in a marketplace where prospective buyers enter their policy data once, and every company then returns a price quote based on that information. This saves time by eliminating quotation requests for each company you want a rate for.

To enter your information into the quoting system, click here (opens in new window).

The one downside to using this type of system is you are unable to specify which providers to receive prices from. If you wish to select specific providers to compare rates, we have a page of insurance companies in your area. Click here for list of insurance companies.

Whichever method you choose, compare apples-to-apples coverage limits for every quote you compare. If the quotes have different limits and deductibles on each one you will not be able to truly determine the lowest rate. Having just a slight variation in insurance coverages can make a big difference in price. It’s important to know that having more price comparisons will enable you to find the best rates.

Discounts can save BIG

Companies don’t necessarily list all their discounts in a way that’s easy to find, so we researched some of the best known and also the lesser-known insurance coverage savings.

  • Employee of Federal Government – Employees or retirees of the government can save as much as 8% for IS 250 insurance with a few insurance coverage companies.
  • Sign Online – A few companies will give a small break simply for signing on their website.
  • Seat Belts Save more than Lives – Buckling up and requiring all passengers to wear their seat belts could cut 10% or more off the personal injury premium cost.
  • Drive Less and Save – Fewer annual miles on your Lexus can qualify you for better rates on cars that stay parked.
  • No Accidents – Drivers who don’t have accidents can earn big discounts when compared to drivers who are more careless.
  • Lower Rates for Military – Having a family member in the military could be rewarded with lower premiums.
  • Passive Restraint Discount – Vehicles with factory air bags or automatic seat belts may earn rate discounts up to 30%.
  • No Charge for an Accident – A handful of insurance companies allow you one accident without raising rates if your claims history is clear for a particular time prior to the accident.

As a disclaimer on discounts, many deductions do not apply to the entire policy premium. Most only reduce specific coverage prices like comprehensive or collision. So despite the fact that it appears it’s possible to get free car insurance, companies wouldn’t make money that way.

To see a list of insurance companies who offer insurance coverage discounts, click here.

Will just any policy work for me?

When it comes to buying the right insurance coverage, there is no best way to insure your cars. Every insured’s situation is different and a cookie cutter policy won’t apply. For instance, these questions might point out whether your personal situation might need professional guidance.

  • What is UM/UIM insurance?
  • When should my teen driver be added to my policy?
  • Does my medical payments coverage pay my health insurance deductible?
  • What discounts do I qualify for?
  • Can my teen drive my company car?
  • Am I covered if I hit a deer?
  • Is my custom paint covered by insurance?
  • Is my camper covered by my car insurance policy?
  • Should I buy more coverage than the required minimum liability coverage?

If it’s difficult to answer those questions, then you may want to think about talking to a licensed insurance agent. If you don’t have a local agent, fill out this quick form or you can go here for a list of companies in your area.

Insurance specifics

Knowing the specifics of insurance can help you determine which coverages you need and proper limits and deductibles. The terms used in a policy can be confusing and reading a policy is terribly boring. Listed below are typical coverages available from insurance companies.

Liability insurance

Liability insurance can cover damage or injury you incur to other’s property or people that is your fault. This insurance protects YOU from legal claims by others. Liability doesn’t cover damage sustained by your vehicle in an accident.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see limits of 100/300/100 which stand for a limit of $100,000 per injured person, a per accident bodily injury limit of $300,000, and property damage coverage for $100,000.

Liability can pay for claims like attorney fees, structural damage, medical expenses and medical services. How much coverage you buy is up to you, but consider buying as large an amount as possible.

Comprehensive insurance

This pays to fix your vehicle from damage OTHER than collision with another vehicle or object. A deductible will apply then your comprehensive coverage will pay.

Comprehensive can pay for claims like rock chips in glass, damage from flooding, vandalism, hitting a deer and damage from a tornado or hurricane. The maximum amount you can receive from a comprehensive claim is the actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.

Med pay and Personal Injury Protection (PIP)

Medical payments and Personal Injury Protection insurance kick in for short-term medical expenses for nursing services, dental work and doctor visits. They can be used in conjunction with a health insurance program or if you do not have health coverage. Coverage applies to both the driver and occupants and will also cover any family member struck as a pedestrian. PIP coverage is not available in all states and may carry a deductible

Uninsured/Underinsured Motorist (UM/UIM)

Your UM/UIM coverage gives you protection from other drivers when they do not carry enough liability coverage. Covered claims include hospital bills for your injuries as well as damage to your 2008 Lexus IS 250.

Because many people only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is a good idea.

Collision coverage protection

Collision coverage pays for damage to your IS 250 from colliding with another car or object. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage pays for claims such as sideswiping another vehicle, colliding with a tree and crashing into a building. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are older. Another option is to raise the deductible to bring the cost down.

Buy online or local, you save

When shopping online for insurance coverage, it’s not a good idea to buy lower coverage limits just to save a few bucks. There have been many situations where consumers will sacrifice comprehensive coverage or liability limits only to regret at claim time that it was a big error on their part. Your strategy should be to buy a smart amount of coverage at the best price, not the least amount of coverage.

In this article, we presented a lot of techniques to save on 2008 Lexus IS 250 insurance. The key thing to remember is the more rate quotes you have, the better likelihood of reducing your rate. You may be surprised to find that the lowest rates come from a lesser-known regional company. Some small companies often have lower prices on specific markets than their larger competitors like State Farm, Geico and Nationwide.

Additional information